Would You Buy This Stock?

By: readtheticker | Thu, Aug 28, 2014
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There is evidence that demand is overcoming supply, and a change of behavior is very near.

Symbol: HL
Sector: Silver stock
Name: Hecla Mining Co. (NYSE)

Price is still in a trading range, so the battle of supply (Bears) and demand (Bulls) is not over, but as you can see (right hand side of chart) the waves up (blue dots) are attracting more volume than the waves down (red dots). This is strength and demand overcoming supply. After a strong down move supply does dry up, all those that have sold, are very close to being done! Soon the bulls will have a chance to push prices higher. Look like accumulation, and once accumulation is completed prices can be expected to be marked up. However to be sure that demand has control wait for prices to break over resistance, but do keep this stock on your watch list.

Bullish/Bearish Volume Analysis
Larger Image

Investing Quote...

"[Point and] figure charts are more valuable than vertical [bar] charts" ~ Richard D Wyckoff

"Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't under-estimate the value of that, but they're not designed to take care of social needs" ~ George Soros

 


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readtheticker

Author: readtheticker

readtheticker
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TRUE MONEY SUPPLY

Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/